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David Walsh, Founder and CEO of CIM

David Walsh, Founder-and CEO of CIM.

Funding roundup September 17 – September 23: Sonder, Musk’s SpaceX, India’s Bhanzu and more

This weekly feature from Dynamic Business runs down the week’s top 10 funding rounds from Australia, India and the US. Check out last week’s biggest funding rounds here.

CIM raises AU$10 million

CIM, the creator of a world-leading property operations software solution that enables teams to work more collaboratively and accelerates the journey to net zero emissions, announced that it had raised AU$10 million after closing its Series A. 

The round was led by Five V Capital alongside Carthona Capital and also included seasoned property executives such as Mark Steinert, former CEO of Stockland. 

The new capital will be used to expand CIM internationally into Asia and North America and build out the team, with a doubling of headcount expected in the next 12 months.

Sonder raises $35 million Series B

Sonder has raised $35 million in Series B funding. The round was led by Blackbird Ventures, with SEEK Investments and SecondQuarter Ventures also tipping in as new investors. Blackbird’s Niki Scevak will join the company’s board. 

$9 million for NSW businesses for plastic recycling

More plastic will be recycled and used to make new products in New South Wales due to a $9 million loan to help businesses modernise their operations and access the most innovative plastic recycling technology.

Indian startups raised over $995 million in VC funding in August

According to GlobalData, 128 Indian firms raised over $995 million in venture capital funding in August. According to a statement from the data and analytics company, the money raised in August was 9.7 per cent higher than the previous month. 

From January to August 2022, India announced 1,239 VC financing agreements, with the declared funding value standing at USD 17.7 billion.

Deep Rooted has secured $12.5 Mn in its Series A

Deep Rooted, an agritech business, has raised $12.5 million in a Series A investment headed by IvyCap. Existing investors Accel, Omnivore, and Mayfield have also contributed to the fundraising round.

Deep Rooted intends to use the funding to expand its operations in southern India, strengthen its technological stack, and add people to the marketing, technical, and business development teams.

Edtech startup Bhanzu bags $15m series A funding

Bhanzu, an India-based edtech business focused on math education, has raised US$15 million in a series A fundraising led by Eight Roads Ventures, with participation from B Capital’s Ascent Fund.

Last year, Lightspeed Venture Partners sponsored a $2 million seed round to help the company expand its live virtual classrooms and accelerate recruiting. The company currently employs about 400 people.

Petition for $ 10 million private investment in Elon Musk’s SpaceX 

Elon Musk’s SpaceX, has been petitioned to accept nearly $10 million in private investors as more individuals join the US crowdfunding revolution.

If SpaceX (Space Exploration Technologies Corp) did agree to a public equity crowdfunding raise or opened its shares to a secondary market for private securities, it would be a significant milestone for equity crowdfunding since it was enabled by the JOBS Act of 2012.

Equity crowdfunding is rocketing, raising $113.52 billion last year according to Pitchbook data, a year-on-year increase of 1,021%. At the same time, Forbes reported that the private securities market hit a record $7 trillion last year and is set to soar to $30 trillion by 2030.

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Yajush Gupta

Yajush Gupta

Yajush is a journalist at Dynamic Business. He previously worked with Reuters as a business correspondent and holds a postgrad degree in print journalism.

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